A Data Center Power Management Company
Hanwha Solutions announced on Nov. 24 that it has signed a contract to invest US$100 million in Lancium Technologies in Houston, Texas. Through this investment, Hanwha Solutions will secure a seat on the board of directors of the U.S. startup, which specializes in data center power management.
Lancium Technologies is a power management company founded by Michael McNamara, a U.S. venture capitalist, in 2017. It attracted a total of US$150 million from Hanwha Solutions and others this time. It will use the funds to expand its business.
Lancium Technologies plans to create data centers in Abilene, northwest Texas, and provide electricity generated by renewable energy at optimal prices. Its main customers are IT companies that operate high performance computing equipment that consumes a lot of power.
Lancium Technologies plans to secure cheap power from renewable energy generation operators in Texas and supply it stably using its own power management software, “Lancium Smart Response.”
To this end, Lancium Technologies will buy a total of 9.51 million square meters of land throughout Texas and run data centers beginning from the end of next year. Companies that move into data centers built by Lancium Technologies can increase profitability by reducing the operation of computing equipment during high rate time zones and selling the remaining power to local power grids.
In 2020, Lancium Technologies secured the capability to develop big data and artificial intelligence-based energy management software by acquiring Growing Energy Labs Inc. (GELI), a software company in the United States.